German finance minister Wolfgang Shaeuble on Grexit: Perhaps temporary exit from the Eurozone would be better for Greece
Never one to mince his words, German finance minister Wolfgang Schaeuble has suggested that, despite the Greek parliament's overwhelming support for its creditors' reform proposals, a "temporary Grexit" might be a better option.
Read more: IMF slams Greece deal
This morning Schaeuble told Deutschlandfunkradio that "perhaps [Grexit] would be the better way for Greece".
Given the fact that negotiating a deal took not only six months, but a substantial amount of work on Greek Prime Minister Alexis Tsipras' part when it came to persuading his parliament to vote for the measures, that's going to go down like a ton of bricks with his Eurozone counterparts.
He also hinted at supporting the International Monetary Fund's (IMF) assertion that Greece's lenders will need to take significant writedowns, or its debts will become unsustainable.
"We will now see in the negotiations whether there is even a way to get to a new programme taking into account (Greece's) financing needs, which have risen incredibly," he said.